Client: Leonard, Street and Deinard
Business: Professional Services
Services: Strategic Analysis & Planning, Lease Negotiations
Project Size: 150,000 sf lease extension
Leonard, Street and Deinard
Project Objectives:
Capitalize on unique building and market conditions to extend the lease at competitive rates and provide for ongoing expansion.
Challenges:
Projected growth needs exceeded expansion rights under the existing lease, which still had four years of term remaining as the building came under new ownership.
Unique Solution:
Nelson, Tietz & Hoye worked with Leonard, Street and Deinard to clarify their requirements and approached the new owner about an early restructuring of the lease. With significant existing and upcoming vacancies in the building and the new landlord's desire to secure an anchor tenant, a long term lease was negotiated that provided significant expansion flexibility and competitive economics.